TORONTO, ONTARIO-- (MARKET WIRE) -- 10/15/10 --Dacha Strategic MetalsInc. ("Dacha" or the"Company") (TSX VENTURE: DSM)(OTCQX: DCHAF) is pleased toannounce that it has acquired an operating license in the Peoples Republic of Chinafor Rare Earth Elements through the acquisition of a trading company inChina. Theacquisition of this operating license will allow Dacha to transact inRare Earth Elements in the domestic and the export market within China under bothimport and export status.
Scott Moore, President and CEO of Dacha stated,"Dacha's business model has been significantly enhanced with thistransaction. Our ability to freely transact in Rare Earth Elements inboth the domestic and export markets within China will be asignificant driver of value to our shareholders."
The acquisition of the trading company which holds the operating licensein Chinawas completed by Dacha Strategic Metals Corp. (Barbados), a whollyowned subsidiary of Dacha. This operating licenses allows the holder toengage in trading activities of rare earth materials within China. It also hasthe right to import rare earth materials into China and exportmaterials that do not require special licenses for export.
The process of the ownership transfer and the appropriate governmentagency registrations are expected to be finalized within the next 30days.